Scribd Logo
Upload

Welcome to Scribd!

  • Take Note Kinh Tế Quốc Tế

    Uploaded by

    Phuong Dung
    5 views2 pages
    - The document discusses international trade ratios and production possibility frontiers. - It defines key terms like the World Trade Organization (WTO), gross domestic product (GDP), and international trading ratios (ITR). - As an example, it provides the ITR between wheat and cloth for the US and calculates trade amounts based on different ITR values. - It also shows the PPF curves for the UK and US, using the equations of lines to represent the trade-off between producing cloth and wheat.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    - The document discusses international trade ratios and production possibility frontiers. - It defines key terms like the World Trade Organization (WTO), gross domestic product (GDP), and international trading ratios (ITR). - As an example, it provides the ITR between wheat and cloth for the US and calculates trade amounts based on different ITR values. - It also shows the PPF curves for the UK and US, using the equations of lines to represent the trade-off between producing cloth and wheat.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    5 views2 pages

    Take Note Kinh Tế Quốc Tế

    Uploaded by

    Phuong Dung
    - The document discusses international trade ratios and production possibility frontiers. - It defines key terms like the World Trade Organization (WTO), gross domestic product (GDP), and international trading ratios (ITR). - As an example, it provides the ITR between wheat and cloth for the US and calculates trade amounts based on different ITR values. - It also shows the PPF curves for the UK and US, using the equations of lines to represent the trade-off between producing cloth and wheat.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Chapter 1 :

    -WTO : world trade organization , have 164 members


    -Vietnam became a member of WTO: 2007
    -Benefit: Tariff remove, tariff barrier is down
    - GDP: Gross Domestic Product (tổng sản phẩm quốc nội)
    - Trade-to-GDP ratio: (E+I) /GDP

    Chapter 3:
    - Relative cost = opportunity cost
    - International trading ratio (ITR) wheat/cloth: 2/3 ~ 2
    Ex: ITRw/c = 1.5
    If US exchange wheat for cloth with the ITR of 1.6, it means US can exchange 1 unit wheat
    for 1.5 unit cloth
    US export 10 ton wheat, import 16 ton cloth
    ITRc/w: 1/2~ 3/2
    ITRc/w = 1.2
    US export 10 ton cloth, import 12 ton wheat

    y = Qcloth
    x = Qwheat
    PPF: y = ax + b

    UK: A’( 40,40); B’(60,0);


    C’(0,120)
    We have : a.40+b = 40
    60x + b = 0
    b = 120
    =>a = -2, b = 120
    => y = -2x + 120
    US: C (0,120); A(60,80); B(180,0) y=ax+b
    We have : b=120; 60a + b= 80; 180a+b=0
    =>a= -2/3, b=120
    => y = -2/3x + 120

    Assignment 2:

    You might also like